US Seeks $61 Million in Crypto Linked to Iran's Black-Market Oil Sales

The U.S. Department of Justice has filed a civil forfeiture complaint seeking $61 million in cryptocurrency allegedly linked to Iran's black-market oil sales.

Prosecutors claim the funds were part of a massive network worth $1.5 billion, which moved oil proceeds through unhosted cryptocurrency wallets and an Iranian exchange tied to the Revolutionary Guards.

The complaint targets two Chinese companies, Blessed Trust and Hexa Whale, for allegedly laundering much of the money through Binance accounts.

Binance has stated it did not permit transactions with sanctioned individuals and is cooperating with law enforcement on this matter.